Bitcoin
Bitcoin (BTC)
$63,985.00 -0.44266
Bitcoin price
Ethereum
Ethereum (ETH)
$3,433.19 1.09134
Ethereum price
BNB
BNB (BNB)
$572.68 0.64539
BNB price
Solana
Solana (SOL)
$159.57 2.48752
Solana price
XRP
XRP (XRP)
$0.5712450 -9.14928
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000173 -7.1719
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000117 -0.40048
Pepe price
Bonk
Bonk (BONK)
$0.0000270 0.41279
Bonk price
Bitcoin
Bitcoin (BTC)
$63,985.00 -0.44266
Bitcoin price
Ethereum
Ethereum (ETH)
$3,433.19 1.09134
Ethereum price
BNB
BNB (BNB)
$572.68 0.64539
BNB price
Solana
Solana (SOL)
$159.57 2.48752
Solana price
XRP
XRP (XRP)
$0.5712450 -9.14928
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000173 -7.1719
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000117 -0.40048
Pepe price
Bonk
Bonk (BONK)
$0.0000270 0.41279
Bonk price
Bitcoin
Bitcoin (BTC)
$63,985.00 -0.44266
Bitcoin price
Ethereum
Ethereum (ETH)
$3,433.19 1.09134
Ethereum price
BNB
BNB (BNB)
$572.68 0.64539
BNB price
Solana
Solana (SOL)
$159.57 2.48752
Solana price
XRP
XRP (XRP)
$0.5712450 -9.14928
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000173 -7.1719
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000117 -0.40048
Pepe price
Bonk
Bonk (BONK)
$0.0000270 0.41279
Bonk price
Bitcoin
Bitcoin (BTC)
$63,985.00 -0.44266
Bitcoin price
Ethereum
Ethereum (ETH)
$3,433.19 1.09134
Ethereum price
BNB
BNB (BNB)
$572.68 0.64539
BNB price
Solana
Solana (SOL)
$159.57 2.48752
Solana price
XRP
XRP (XRP)
$0.5712450 -9.14928
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000173 -7.1719
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000117 -0.40048
Pepe price
Bonk
Bonk (BONK)
$0.0000270 0.41279
Bonk price

Digital asset investment products saw $21m in outflows

digital-asset-investment-products-saw-21m-in-outflows
Edited by
News
Digital asset investment products saw $21m in outflows

Investment crypto products’ outflows amounted to $21 million last week.

According to a CoinShares report, outflows from investment products into digital assets were modest at $21 million last week. However, this figure masks very high Bitcoin (BTC) trading volumes last week, totaling $11.8 billion, seven times the average weekly trading volume in 2023.

Digital asset investment products saw $21m in outflows - 1
Source: CoinShares

Geographically, capital inflows into the United States totaled $263 million, while Canada and Europe saw outflows of $297 million. Analysts suggest that such trends are explained by the migration of assets to the United States.

Bitcoin product outflows were minor, totaling $25 million, although trading volumes of $11.8 billion represented 63% of all BTC volumes on trusted exchanges. Ethereum (ETH) and Solana (SOL)-based products saw outflows of $14 million and $8.5 million, respectively.

Analysts note that ETP activity is currently dominating overall trading activity. Incumbent issuers with higher costs have been hit in the U.S., with capital outflows totaling $2.9 billion since the launch of spot Bitcoin ETFs.

Since launch, these newly issued ETFs have gained $4.13 billion, outpacing losses from more expensive existing ETPs. Investors saw the recent price decline as an opportunity to add to short Bitcoin investment products, receiving an influx of $13 million. Net inflows into U.S. ETFs have been $1.2 billion since launch.

Senior IT architect at BTCData Chris Jay Terry predicted an outflow of another $25 billion from the largest spot Bitcoin ETF GBTC.

After six days of trading, the net outflow from GBTC amounted to $2.8 billion. JPMorgan Chase bank experts expect that the fund will lose about $13 billion, of which $10 billion will be transferred by investors to other products from the same sector.